Exponent Energy, a technology startup dedicated to simplifying energy for electric vehicles (EVs), announced it has raised $5 million in a pre-Series A round of funding. Existing investor, YourNest VC led the round.
Other existing investors, 3one4 Capital and AdvantEdge VC, doubled down on their earlier investment as the new round witnessed the participation of Motherson Group, a leading global supplier of automotive components.
The company will use the funds to begin commercial operations and scale it across multiple cities, hire across product and engineering teams, build a robust deployment team for smooth operations and double down on its software products to create a seamless customer experience.
